Shanghai Nonferrous Metals News
After domestic tungsten smelters began to cut operations at end-June, supply of tungsten raw materials and products has tightened, gradually stabilizing tungsten prices. The pace of de-stocking at some tungsten smelters has increased, and several have tentatively increased their quotation prices.
In early August, Qiu Wanyi, secretary-general of the Ganzhou Tungsten Industry Association, said that according to field studies, APT inventory at many smellers is less than one month’s supply. With ore depletion and increased mining depth, mining costs of tungsten will increase accordingly. Given tungsten prices having fallen to bottom, an obvious rebound can be expected within six months.
